Cash Now Profession Feed

April 13, 2013

Factoring Company CEO's "Desperate and Menacing Nature"

by Structured Settlement Watchdog®  Unfair competition

Are underworld tactics creeping in to the under regulated structured settlement secondary market?  Perhaps they are if this January 2013 account of a member of the secondary market is to believed. [The written backup has been preserved].

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"A while back the CEO of another (factoring) company, after going to great effort to ensure they could tell me this face to face, stated that he would ‘…never under any circumstances let anyone compete with him.”  I’ve since heard reports of this statement being made to others.  This company is well known to engage in the bad business practices our industry needs to avoid.  The entire story of this meeting would revel the desperate and menacing nature of this individual.  However, I prefer to omit their name.  I’m here to do good business.  By doing just that you can marginalize the harm the shady characters out there do to the secondary market’s image". 

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The individual is referring to someone who upon information and belief is a current member of the National Association of Settlement Purchasers. The fact that the informant has heard other reports of menacing the competition conducted by the same factoring CEO says alot of the secondary marketplace and its need for improvement.

Stay tuned for future blog posts and developments on this topic.

Posted at 06:32 PM in Cash Now Profession, National Association of Settlement Purchasers (NASP), Structured Settlement Factoring, Structured Settlement Factoring News, Structured Settlement Transfers, Structured Settlement Watchdog®, Unfair Trade Practices In Structured Settlement Secondary Market | | Comments (0)

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Guide to Structured Settlements 2022

  • What is a Structured Settlement? What You Need to Know
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  • STRUCTURED SETTLEMENTS 4REAL® Blog Is a Popular Source of Structured Settlement News and Information, Settlement Planning News, Tax Deferral and Deferred Income Planning Solutions,
    with a stable readership that seeks credible structured settlement information and/or opinion about topical issues related to settlement planning, targeted to lawyers, injured persons and their family members, guardians, survivors, judges, magistrates, special masters, mediators, administrators, trust companies, insurance company executives and adjusters, financial advisers settlement professionals, financial professionals, insurance regulators, government leaders, federal and state law enforcement, buyers and sellers of structured settlement payment rights, the news media and other interested parties. 4structures.com LLC established the structured settlement blog in 2005 and for over 16 years it has been a leading source for critical commentary. The John Darer authored blog has been among the most prolific, regularly providing fresh structured settlement, settlement planning and litigation recovery management content and commentary . John Darer®, CLU ChFC MSSC CeFT® RSP CLTC, President of Stamford, CT based 4structures.com, LLC, is an experienced New York City area structured settlement expert, structured settlement broker, Certified Financial Transitionist, and Registered Settlement Planner. WHAT YOU GET here is the straight stuff with a touch of irreverence and humor. We hope you enjoy and find the content to be helpful. Subscribe to the structured settlement blog feed, or a specific category feed through your blog reader, or through the Feedburner icon on this page. Followers of JDDarer™ on Twitter may also receive select content. Thank you for reading!

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Structured Settlement Best Practices Corner

  • New York Insurance Advertising law requires the full name of the Insurer to be listed along with the city and state of the principal office. Stating that you represent these fine companies using Insurance company logos without the preceding information are also illegal
  • When it comes to settlement documents it is the ultimate responsibility of the lawyers or claims adjusters who receive input concerning the structured settlement aspects of the documents to actually read the entire document, exercise independent thought and advise their clients properly
  • Be aware that financial advisors use of testimonials is prohibited or restricted
  • Most states require that Testimonials represent the CURRENT opinion of the person who made the testimonial. Be prepared to back it up.
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